Page 8 - Union Budget

Economic Survey: Fertiliser subsidy touches Rs 85,300 cr in Apr-Dec FY22

The government's fertiliser subsidy touched Rs 85,300 crore in the first nine months of the ongoing fiscal year, according to the Economic Survey. Domestic fertiliser production reached 28.5 million tonne during April-December period of 2021-22. Out of the total fertiliser production, urea output was at 18.7 million tonne, Di Ammonium Phosphate (DAP) at 3 million tonne and complex fertilisers at 6.8 million tonne. According to the Survey, total fertiliser subsidy reached Rs 85,300 crore during the nine-month period. Of this, Rs 49,800 crore subsidy was on urea and the balance Rs 35,500 crore on phosphatic and potassium (P&K) fertilisers. The government's fertiliser subsidy had touched a record Rs 1,38,500 crore in 2020-21. Much of the subsidy was spent on urea at Rs 99,500 crore followed by P&K fertilisers at Rs 39,000 crore. The government is making available fertilisers, namely urea and different grades of P&K fertilisers to farmers at subsidised prices through ...

Eco Survey: Gross FDI inflows moderated to $54.1 bn during Apr-Nov 2021

Net foreign direct investment recorded a lower inflow of USD 24.7 billion and the gross FDI moderated to USD 54.1 billion in April-November 2021 due to sluggish equity investment, the Eco Survey said

Economic Survey: India on track to meet FY22 fiscal deficit target

India will comfortably meet its fiscal deficit FY22 target on the back of a strong rebound in revenues, said the Economic Survey 2021-22

Eco Survey: To achieve $5-trn GDP by FY25, need to spend $1.4 trn on infra

In order to achieve USD 5 trillion GDP by FY'25, India needs to spend about USD 1.4 trillion over this period on infrastructure, according to the Economic Survey

Eco Survey 21-22: Supply management, cut in fuel duties help control prices

Consumer price index-based inflation has remained well within RBI's sub 6-per cent comfortable zone during April-December period of FY22

Economic Survey: India's total consumption likely to grow 7% in FY22

India's total consumption is estimated to have grown by 7 per cent in FY22 with government consumption being the biggest contributor, the Economic Survey tabled in Parliament on Monday said

Economic Survey says economy well placed to take on FY23 challenges

The Indian economy is well placed to take on the challenges of 2022-23, suggest macro-economic stability indicators, said Eco Survey which was presented in the Parliament on Monday by Finance Minister

Budget 2022: CII sees uptick in India consumption by next quarter

The industry, hit by some curbs to control the omicron variant, is expecting relief measures in the budget due Tuesday

Budget 2022 proposals to determine trajectory of Indian equities this week

The Union Budget FY23's proposals will determine the trajectory of the Indian equities markets during the coming week

Budget 2022: Fintech industry seeks incentives to push financial inclusion

Stepping up demand for tax concessions in the forthcoming Budget, the fintech industry is stressing that the fiscal and non-fiscal incentives are needed to promote financial inclusion and move towards a less-cash economy. The fintech industry and experts have urged Finance Minister Nirmala Sitharaman to lower the TDS rates, saying such a move would free the capital for the sector without any impact on the government's revenue. Sitharaman is scheduled to present the Union Budget for the next financial year on February 1. Nitin Jain, Partner, Financial Services, PwC India, said qualification criteria for digital lenders, short-term credit, partnership guidelines with loan service providers, data governance norms, transparency norms are all required to ensure an optimal business environment for digital lending. Mihir Gandhi, Partner & Payments Transformation Leader, PwC India, stressed on increasing the scope of the Payments Infrastructure Development Fund (PIDF) and introducing ...

Budget 2022: ICAI seeks 14 tax, accounting reforms to make laws simple

The Institute of Chartered Accountants of India (ICAI) has sought about 14 tax and accounting reforms in the upcoming Union budget. The suggestions essentially aim at making laws simple, fair, transparent. less litigative and user friendly, ICAI president Nihar N Jambusaria said. There are about 14 suggestions from our end submitted to the Central Board of Indirect Taxes & Customs (CBIC) for consideration, he said on the sidelines of an international conference of CA students. The suggestions include permitting carry back of losses and introducing suitable legislative amendments for its application. It is relevant for hospitality, passenger transport and some other sectors. Regarding depreciation on slump sale, the ICAI suggested amendment of a provision of the Income Tax Act to clarify the legal position as to whether depreciation can be claimed on the basis of proportionate number of days by the transferer and the transferee company. It also proposed that Section 12 of the Act .

Budget 2022: Expectations on changes in income-tax slabs and rates

Union Budget 2022-23: Expectations on changes in income tax slabs and rates

Markets eye Economic Survey, Budget 2022 this week

Budget 2022 announcements are catalysts for market trends and they clock a post-Budget rally if it books profit ahead of it. Here're data points that the Street awaits from Economic Survey & Budget

What is Expenditure Budget?

When FM Nirmala Sitharaman presents the Budget tomorrow, the focus will be on a document that shows total expenditure of the govt. It is classified as Expenditure Budget. This report tells about it

Naidu to chair virtual meeting with parties on RS agenda for budget session

Rajya Sabha Chairman M Venkaiah Naidu will hold a virtual meeting with leaders of various parties and groups in the House on Monday evening for setting the agenda for the Budget session of Parliament

Make investments more attractive in pharma sector: Pre-Budget survey

A pre-budget expectations survey showed increasing demand for making investments more attractive in the pharmaceutical industry.

PM Modi to address BJP workers virtually on Feb 2: Sources

A day after the Union Budget is tabled in the Parliament, Prime Minister Narendra Modi will address BJP workers across the country virtually on February 2 at about 11 AM, sources said

Budget 2022-23: Clarity on PSB privatisation is expected, say brokerages

Some clarity on the privatisation of two public sector banks, announced in last year's Budget, is expected

Budget 2022: Sops to boost investment in real estate sector, say brokerages

There are multiple expectations from firms in the real estate sector, the second largest employer after agriculture

Budget 2022: Cement sector may shine with infra announcements, say analysts

Schemes to develop rural infrastructure and boost incomes, coupled with an extension of real estate incentives, would be key triggers for the sector in the Budget